Newly launched Seattle cancer therapy startup Callio Therapeutics raises $187M

Biotech-focused investment firm Frazier Life Sciences launched Callio Therapeutics, a cancer treatment startup with headquarters in Seattle and Singapore.

Frazier led a $187 million Series A round, announced Monday, to get the company started.

Callio has an exclusive license to work on cancer treatments that use multi-payload antibody-drug conjugates developed by Hummingbird Bioscience.

Callio’s management team include biotech and pharmaceutical leaders from companies including ProfoundBio, Silverback Therapeutics, SeaGen, Medarex, Hummingbird Bioscience and Genentech. They are Piers Ingram, CEO; Jerome Boyd-Kirkup, chief scientist; Dr. Naomi Hunder, chief medical officer; and Angèle Maki, chief business officer.

Frazier is based in Silicon Valley and raised $630 million in October for its latest fund. Frazier has a separate later stage healthcare-focused fund, called Frazier Healthcare Partners, that is based in Seattle and recently raised $2.3 billion for its 11th fund.

Callio’s round included significant participation from Jeito Capital alongside other life sciences investors: Novo Holdings A/S, Omega Funds, ClavystBio, Platanus, Norwest, Pureos Bioventures, SEEDS Capital and EDBI.